Cathie Wood, CEO and co-founder of Ark Invest, spoke at a conference in New York about the potential of cryptocurrencies. Despite the recent decline in Bitcoin prices, it is still bullish and predicts that the price of Bitcoin will be in the six-digit range. She predicts that Bitcoin prices will multiply tenfold and trade close to $ 500,000, compared to nearly $ 47,000 currently. However, he underscored the importance of institutional investors allocating at least 5% of their portfolios to digital assets. He added that while Bitcoin remains his favorite cryptocurrency, he is also keeping a close eye on Ethereum, which has grown significantly and is moving from a ‘proof of work to a proof of stake’.
Bitcoin prices returned above the 50 and 200 day SMA during the daily period, which is certainly a positive for the price. above the 200-day SMA in the daily period. If the price continues to trade above these moving averages, we could see a major increase in the price of Bitcoin.